The Federal Government has reacted formally to the recent disclosure by Governor Godwin Obaseki of Edo state that N60 billion was printed to fund federal allocation to states, saying the information was not only untrue but unfortunate.
Minister of Finance, Budget and National Planning, Zainab Ahmed, who made this known at the end of the weekly virtual meeting of the Federal Executive Council , described as untrue, sad and unfortunate the statement credited to Governor Obaseki that the federal government had to print N60 billion to fund the March, 2021 federal allocation to the 36 states and Federal Capital Territory .
Answering reporters questions on the issue after the FEC meeting, the Minister said what was shared among the states which Obaseki was referring to was internally generated revenue of government which was even made public through the website of the Finance Ministry. She also allayed the fears of Obaseki over the debt portfolio of Nigeria saying there was nothing to worry about as such debts fall within sustainable limit.